Chamber of Deputies approve creation of royalty for large-scale mining for extraction of copper & lithium

The Chamber or Deputies has approved the creation of a royalty for large-scale mining for the extraction of copper and lithium in the Chamber. The text was approved with 91 votes in favour, 36 against and 15 abstentions. The project aims to establish compensation in favor of the State for the exploitation of large copper and lithium mining, equivalent to 3% of the value of sale.

The Industry PPI rose 17.5% annually in February

The Industry PPI (Producer Price Index) presented an interannual increase of 17.5%, accumulating 4.7% in February this year, according to the National Institute of Statistics (INE). The Mining Producer Price Index (IPPMin) was the one that had the greatest impact, increasing 33.5% compared to the same month of the previous year. The IPPMin accumulated 7.4% so far this year.

Chile is finalizing new regulations for its green hydrogen industry

Chile is finalizing the initial part of new regulations for its emerging green hydrogen industry. A document that orients developers on how to present proposed projects to the electricity and fuels regulator (SEC) will be completed soon. The process of drafting the regulations started at the end of September. The regulations will cover installations for hydrogen production, treatment, storage, ground transport and consumption.

18% of Chile’s acommodation is operating as a sanitary residence for quarantine

The new quarantine measures for 21 communes in the Metropolitan Region threaten to undermine the slight rebound that the hotel sector had registered during the summer. According to figures from Hoteleros de Chile, 57% of hotels nationwide are closed due to the pandemic. As of February 2021, hotel occupancy nationwide was 33%. Meanwhile, 18% of Chile's accommodation is currently operating as a sanitary residence, according to Colliers.